I am anticipating a 38.20% 2H retracement before price rallies to the daily 50.00% retracement level for 50 pips (also the third daily trend line touch). If price breaks the daily trend line we can expect a rally to the next resistance zone (0.75550); However, if price rejects the trend line, I expect the continuation of the current downtrend for the next lower...
After the breakout from the Ascending Triangle Pattern, CADCHF starts showing a Bearish Continuation by Declined the Moving Average Exponential. After the Decline, I decided to entry Short Position ( Sell ) SELL @0.7520 STOP LOSS @0.7570 TAKE PROFIT @0.7455 This action was taken by Chart Pattern analysis and a combination of Standard Indicator, Moving Average...
BEARISH MARKET STRUCTURE WEDGE PATTERN RSI DIVERGENCE WAIT FOR PRICE TO BREAK AND CLOSE BELOW THE WEDGE TARGETS BASED ON FIBONACCI CLUSTER
CADCHF is approaching our first support at 0.7468 (horizontal swing low support, 78.6% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 0.7518 (50% Fibonacci retracement). Stochastic (89,5,3) is approaching support as well. Trading CFDs on margin carries high risk. Losses can exceed...
We can see that price breakout from the bullish channel, then the price move to a flag pattern but sellers pushed price lower again and they make a breakout from the flag either... Now we can see the price is testing previous support. We should see down action to 0.74616 - 0.73337 somewhere in this area we should see reversal... Let's see what is going to...
We broke and close a rising wedge continuation pattern on the last H4 candle close. Right now we are retesting the support trendline of the wedge. If we see a LL-LC after the retest (you can drop a timeframe to the H1 to look for this), expect price to move toward the targets. Move SL to B/E after TP1 is hit. Goodluck!
Dear community, my SHORT idea is based on the Elliot Wave count, Fibonacci Retracement and classic chart analysis. Major facts that support my idea are: - The price formerly formed and broke out of a beautiful ending triagonal, indicating the end of the impulsive 1-2-3-4-5 up move and the start of the a-b-c correction. - The price dropped initially forming the...
CADCHF is approaching our first resistance at 0.7544 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur to our major support at 0.7504 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance. Trading CFDs on margin carries high risk. Losses...
Okay, so not a pair I usually trade or analyse but it was requested and I humbly accepted. So we can see bulls are in control at the moment, I see an upside move of around 80 pips before we can see a good reversal zone met. I will be looking for the descending trend line to be respected between the 71%-88.6% Fibonacci zone. This will also be a good rejection...
CADCHF is approaching our first resistance at 0.7544 (horizontal pullback resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur to our major support at 0.7502 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (89,5,3) is also approaching resistance. Trading CFDs on margin...
CADCHF is approaching our first resistance at 0.7544 (horizontal pullback resistance, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7502 (50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin...
CADCHF is approaching our first support at 0.7451 (horizontal overlap support, 61.8%, Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce might occur above this level to our major resistance at 0.7535 (horizontal overlap resistance, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching our support where we might see a bounce in...